Tips from a Sage ERP X3 Consultant: 3 Steps to Mastering the Financial Data Extraction Tool

Aberdeen Group recently reported that 46% of SMBs report a severe lack of data accessibility, keeping them from making better, faster decisions about their most critical operations. Data has become an increasingly hot topic in the business software world and not for the lack of a good reason- data, especially financial data, is crucial for businesses operating in today’s highly competitive world where every second and every penny counts. Every company has important data hiding somewhere in their business systems; for most companies though, as the research above points out, getting to it is the hard part.  Sage X3 comes equipped with all of the financial reporting tools you need to quickly and easily access, control, and analyze your data. In this blog you will learn the three steps to successfully setting up the Financial Data Extraction (FDE) functionality from an experienced Sage ERP X3 Consultant.

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Tips from a Sage ERP X3 Consultant – Setting Up Workflow Notifications in Sage ERP X3

Saving time and speeding up processes is one of the biggest benefits of utilizing an ERP system. Sage ERP X3 offers many time-saving features, such as workflow notifications. What is a Sage ERP X3 workflow notification? In short, a workflow notifications provide emails to be generated based on triggers within the X3 system so related employees are aware of the event and action can be taken quickly.  An example of a workflow notification is to have an email generated and sent to the Accounting Manager when a user changes the credit limit on a customer. Below are a few helpful tips from a Sage ERP X3 consultant to help explain what this example would look like and how it would work.

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Sage ERP X3 Credit Limit & Credit Check Capabilities

Controlling the credit available to customers can be a very important part of managing risk within an organization. If you offer credit terms or too much credit to a customer who may not be in the best financial situation, you may have a hard time collecting what they own, and soon their cash problem may become yours. Additionally, you don’t want to offer more or less credit to a customer than they have been approved for as this could cause similar issues. Sage ERP X3 credit limit and credit check capabilities allow you to control this process and avoid these situations. In this article we will provide a brief overview of these features with a particular focus on Sage ERP X3 credit limit control.
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Sage ERP X3 Consulting Tip–Using the Customer Search Screen

For organizations that have a large customer base and for roles that are very customer-centric, this Customer Search screen can save time in navigating to various customer activities. Having a “home” screen related to a customer can be very useful so you can quickly access customer information to answer questions and solve problems.  From a “home” screen, the customer can be easily searched, and various operations can be initiated from this screen. The Sage ERP X3 consulting tip below will show you how to do this using the customer search screen in Sage ERP X3.

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An Overview of Intercompany Transactions in Sage ERP X3

Intercompany Transactions in Sage ERP X3 Intercompany transactions are transactions that involve two entities, such as between a subsidiary and parent company, or across subsidiary companies. When these transactions are entered, the financial postings will impact both of these entities. For companies that have multiple entities, intercompany transactions in Sage ERP X3 are a great fit to ensure accurate information across companies. This blog entry introduces the types of intercompany transactions that can be done within Sage ERP X3.
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How to Manage Customer and Supplier Prepayment in Sage ERP X3

There are many reasons you may need to enter a prepayment for customers and suppliers in your Sage ERP X3 system. For example, a customer prepayment may be required before shipment or a supplier prepayment may be needed because the supplier requires a down payment prior to beginning work. Whatever the reason, using Sage ERP X3 for customer and supplier prepayment is pretty simple, but there are some important steps that must be taken to ensure the data in the system is correct. Below you will learn how to manage both customer and supplier prepayment in Sage ERP X3.
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Sage ERP X3 Fiscal Year-End Closing Process

Closing the 2015 fiscal year is many months away, but have you taken the time to reflect on how your fiscal year-end process went at the end of 2014 and what you may need to do to smooth the process next year? Was your ERP or accounting system making things more or less complicated? Closing the fiscal year is an important and necessary process in any accounting system and involves many critical steps. For example, closing a fiscal year includes the transfer of the closing balance of the year to the new fiscal year, but also includes numerous controls in order to make sure postings occur properly and a clean transfer to the New Year takes place in the system. Not every accounting or ERP system makes fiscal-year end easier. With the Sage ERP X3 fiscal year-end closing tools, the process is far less complicated and can be done in a single screen although it still requires you to take a few steps prior to the actual closing.

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How to Set Up a Recurring Journal Entry in Sage ERP X3

Recurring Journal Entry in Sage ERP X3For journal entries that may be long and repetitive, setting up recurring journal entries in Sage ERP X3 can help you save time and work smarter, not harder. There are a few steps to setting up a recurring journal entry in Sage ERP X3.

  1. Create a journal entry template
  2. Set up a recurring entry code
  3. Generate the recurring entries as needed

In a previous blog we showed you how to import a journal entry into Sage ERP X3, in this blog you’ll learn how to to navigate the steps involved in setting up a recurring journal entry in Sage ERP X3.

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Sage ERP X3 Reporting: Financial Data Extraction Calculation and Inquiry

In Sage ERP X3, a function called “Financial Data Extraction” is one of the Sage ERP X3 reporting tools provided that gives the user flexibility while creating financial reports. In a previous blog, we covered how to setup of the FDE report.  In this blog, we will walk you through how to run the report calculation and how to view the extraction results.

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Sage ERP X3 Reporting: How to Set Up Financial Data Extraction in Sage ERP X3

According to recent research by the Aberdeen Group, 46% of SMBs recognize that too little data is used for business analysis and lack access to concise, better information to make well-informed decisions. Sage ERP X3 comes equipped with all of the financial reporting tools you need to quickly and easily access, control, and analyze your data.  Not only is it important to have an easy to use system for entering transactions, but it is also important to have a method to extract that data from your system for analysis and reporting.  In Sage ERP X3, a function called “Financial Data Extraction” is one of the tools provided that gives the user flexibility in creating financial reports.  In this blog you’ll learn how to set up financial data extraction in Sage ERP X3.
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Sage ERP X3 Dashboards – How to Modify Visual Process Flows in Sage ERP X3

Process Flows in Sage ERP X3In a previous blog, we covered how to add and modify a dashboard in Sage ERP X3, in this blog you’ll learn how to set up and modify Visual Process Flows in Sage ERP X3. Process Flows are a very useful dashboard tool that will display a workflow for a specific role to better suite their specific needs, and help you become more productive as you work through your daily activities. Sage ERP X3 comes with a number of Process Flows with the installation, but every business is different and sometimes these out-of-the-box Process Flows don’t exactly fit a user role. This blog will show you how to modify Visual Process Flows in Sage ERP X3.
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Sage ERP X3 Dashboards – The Basics

Sage ERP X3 dashboardsOne of the biggest benefits of an ERP system is the ability to use data to improve your business processes and reduce costs, but data can only be helpful when it is accurate, easily accessible, intuitive, and in the hands of users who are able to make the necessary changes- which is why dashboards are so helpful. Sage ERP X3 dashboards provide users with up-to-the-minute graphical representations of this information to help users quickly turn insight into action. Every business and every role is different, so Sage ERP X3 takes it one step further to allows users to design and build their own dashboards based on the information they need. Below we cover some of basic, yet essential things every user should know about setting up and using Sage ERP X3 dashboards.
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